LOCAL LAW
BY COUNCIL PRESIDENT COLLINS-BELLAMY, MAJORITY LEADER RUBBO, MINORITY LEADER BREEN, MAJORITY WHIP NORMAN, COUNCILMEMBERS PINEDA-ISAAC, DIAZ, AND HODGES:
LOCAL LAW AUTHORIZING THE CONVEYANCE OF CITY PROPERTY KNOWN AS 607 WARBURTON AVENUE, 579 WARBURTON AVENUE, AND PART OF 583 WARBURTON AVENUE REAR.
Be it enacted by the City Council of the City of Yonkers (the “City Council”), as follows:
SECTION 1. Section 23 of the New York General City Law and section 37 of the New York Second Class Cities Law are hereby superseded to the extent herein, provided as follows:
The City of Yonkers (the “City”) is the owner of the properties located in the City known as 607 Warburton Avenue, 579 Warburton Avenue, and 583 Warburton Avenue Rear and designated on the Official Tax Map of the City as Section 2, Block 2500, Lots 53, 60, and 100, respectively (collectively, the “Parcel”);
A portion of the Parcel, specifically 607 Warburton Avenue (2-2500-53), 579 Warburton Avenue, and part of 583 Warburton Avenue Rear (part of 2-2500-100) measuring approximately 0.32 acres, as shown on the map attached hereto as Appendix A - The Property and incorporated herein by reference (collectively, the “Property”), is not currently being used by the City for a municipal purpose, has not been designated by the City for specific, future municipal use, and cannot be utilized by the City for its intended municipal purpose; therefore the Property is considered and deemed surplus;
MIROZA TOWER LLC has expressed interest to the City in purchasing the Property and redeveloping the Property as residential, multifamily housing; and
The City Council hereby authorizes the Mayor to execute a contract for the sale of the Property with Miroza Tower LLC or an affiliate thereof (the “Purchaser”) containing terms and conditions substantially similar to those set forth below, as the sale and redevelopment of the Property, as described herein, would be in the best interest of the City.
SECTION 2. Sale of the Property shall be subject to the following express terms and conditions:
(1) the consideration for the sale of the Property shall be SIX MILLION DOLLARS ($6,000,000.00);
(2) Purchaser shall be solely responsible for payment of broker’s fee in the amount of three hundred thousand dollars ($300,000.00);
(3) the Property and all improvements situated thereon shall be conveyed “as is”;
(4) Purchaser shall be required to pay all applicable City and State transfer tax;
(5) redevelopment of the Property shall comply with all requirements of the Yonkers City Code; and
(6) the Mayor or his authorized designee may negotiate such other terms and conditions that are in the best interest of the City.
SECTION 3. This local law shall take effect as provided by law.